Ok, I have started my journey 0-200+ deals in 5 years... 3ish a month

14 Replies

I have finally chosen my niche and am ready to go!

My aim is to do 1 wholesale and 2 rental deals a month. Give or take.

I am going to share here in this post how I am going and whilst having some failure stories (Hopefully not too many) and all of my success stories, I would like to hopefully inspire other people to just get out there and do it because this business is not going to chase you. You need to chase it! 

I am a newbie that had just sent out the first lot of yellow letters and am expecting some replies any day now. 

This is my first post, wish me luck!!!

Wishing you the best @Fiona S. ! Interested to see how things go and lessons learned. =)

Go Get Um! How does a person eat an elephant...one bite at the time. Good luck and good hunting to you. It will be interesting following your progress.

   @Fiona S. all the best , will be watching this post rooting for your success.

Best of Luck in your Journey. Make sure you got your contractors picked, ready to go (painters, electrical, plumbing, flooring) if not doing 2 rentals a month won't be easy to do.

   @Fiona S. all the best will be watching this post rooting for you

Thanks everyone for your encouragement! I cant wait to post my progress.

For my first encouraging story, or not so much, I would like to add, I have learnt my first step... Find a niche, learn from it as much as you can. Don't stray from it, follow your target market, follow what you have learnt. Otherwise it will make you want to learn everything at once and you will not move forward as quick as you would have hoped.

Fiona, good luck, keep the enthusiasm, and believe. There is nothing you and I can not do once we decide to do it. I will see at the TOP. Have a great day. Don

Yes! I have sent out my 3rd lot of yellow letters. I had my first phone call last week! She was not interested in selling, she just wanted a price. In the end she was not interested.

Then... I had another call, and he is super keen to sell. I am hopefully putting it under contract this week and I will wholesale it.

I am soooo excited! Thanks for all the encouragement so far.

@Fiona S.  good luck.. I understand the wholesaling aspect of what your doing

How do you plan on financing 2 rentals a month.. ?  do you have a portfolio lender already lined up?

the long term debt on rentals seems to be a major stumbling block for investors starting out.  Money has thawed but many lenders want significant down payments on rentals.

so with say 2 rentals a month if you buying them and looking for long term financing your probably looking at 30 to 50k a month in down payment money.

Or do you have another scheme your thinking about to amass all these rentals in a short period of time

will be looking for your follow on posts.

Originally posted by @Jay Hinrichs :

@Fiona S.  good luck.. I understand the wholesaling aspect of what your doing

How do you plan on financing 2 rentals a month.. ?  do you have a portfolio lender already lined up?

the long term debt on rentals seems to be a major stumbling block for investors starting out.  Money has thawed but many lenders want significant down payments on rentals.

so with say 2 rentals a month if you buying them and looking for long term financing your probably looking at 30 to 50k a month in down payment money.

Or do you have another scheme your thinking about to amass all these rentals in a short period of time

will be looking for your follow on posts.

 Agree with Jay.  Looking forward to following your story.  Good luck!

Super. "A walk of a thousand mile trip starts with the 1st step" and you have made that step and more. Good luck

Remember how much work it took to obtain a great deal when you get it.  Selling it off quickly to someone else for a one-time pay day at a high tax rate? 

Teach your pony a new trick while you're waiting for the phone to ring.

I look forward to following your story and I am inspired by your motivation and dedication to this @Fiona S. !

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